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The Secret to Account-Based Marketing Success

by Judy Wilks  |  
March 15, 2018

Marketers spend huge sums on technology to make marketing more engaging and accountable—but are they getting value for their money?

Most marketers sense that technology is not quite the panacea it's promised to be. But what if the answer lies not in some clever new tool, but in a completely revamped approach to marketing itself?

That is a question many in the B2B marketing community are asking themselves—and finding their answer in account-based marketing (ABM).

ABM is a way of influencing and building relationships with highly targeted organizations and individuals, treating them as "markets of one" rather than the unwilling recipients of untargeted, untailored "broadcast" marketing.

Some 84% of marketers using ABM say it delivers higher ROI than any other marketing approach, yet only half of organizations had an ABM strategy in place in 2016.

If you're considering ABM, here is our five-stage process for unlocking its benefits.

1. Account Selection

ABM is a process, not a set of technologies. And the first stage in that process is account selection, which entails speaking with existing clients to assess how their current and future needs meet your business proposition, and then determining each account's growth potential.

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Judy Wilks is client director at MomentumABM, an agency specializing in account-based marketing (ABM).

LinkedIn: Judy Wilks

Twitter: @obscurejudy

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  • by Peter Altschuler Thu Mar 15, 2018 via web

    ABM is another example of renaming something old -- Key Account Strategy -- and acting as if it's something new.

    B2B firms have, for years, selected their most promising customers and companies they'd like to have as customers and developing programs geared specifically (and, in some cases, exclusively) for each one. The costs of such marketing and sales efforts are higher, but the potential payoff is much greater, too.

    Yet there are characteristics of such programs, which are often -- derisively -- referred to as elephant hunting, that can reduce the funds available for maintaining or acquiring accounts that have lower revenue potential. Those customers may not spend as much over time, but they can provide consistent, reliable revenue without the substantial investment in Key Account/ABM efforts. Their worth has to calculated using the cost of acquisition, not just the income they provide.

    There is nothing inaccurate or off base in Ms. Wilks' story. It just isn't defining or describing something new called ABM. It's detailing something that's been around, under a different name, for decades.

  • by Acquist Fri Mar 16, 2018 via web

    Very helpfull information. Thnak you for sharing this

  • by MC Sun Mar 25, 2018 via web

    I agree with Peter.

    ABM is basically a renaming of Account Strategy and Account Management. Much the same way that Pragmatic Marketing is a renaming of Marketing 101.

    Some of the tools to create and deliver on the strategy have evolved over time, but the main concepts haven't changed.

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